Majid Alghamdi

AlUla Development Company

AlUla Development Company (UDC) is a closed joint stock real estate business, fully owned by the Public Investment Fund (PIF), established to support the development of AlUla. It will build and operate a world-class portfolio of hospitality, residential, retail, commercial and infrastructure assets in collaboration with the Royal Commission for AlUla (RCU) and the private sector. With a long-term investment strategy aimed at sustainable economic growth, UDC will rejuvenate and preserve one of the world's most ancient cultural sites, writing a new chapter in AlUla's legacy. AlUla Development Company serves as the gateway to opportunity and growth in AlUla, providing a wide range of opportunities for local and international investment across various sectors. It will offer companies with a chance to be part of Saudi Arabia's ongoing transformation in the pursuit of its goals to support the responsible, sustainable development of AlUla. UDC's real estate footprint will cover a total gross floor area of 7.3 million square meters. The primary focus includes hotels but extends to villas and penthouses, contemporary apartments built in the new low-rise Saudi architectural style, offices, warehouses, secondary infrastructure, retail and more. AlUla Development Company will support the achievement of PIF goals in line with Vision 2030 and unlock the capabilities of new and promising sectors and support the economic diversification in Saudi Arabia.